Latvia Ups IMF/EU Aid Request

Latvia added another 2 billion euros (USD2.5 billion) to the amount of aid that it hopes to secure from the International Monetary Fund and European Union. It earlier said that it would need about 3 billion euros to stabilize the economy. The additional request, according to Finance Minister Atis Slakteris, “could be linked directly to the budget deficit and more direct government expenses.” Latvia and the two donors are expected to hold talks on a possible financial package for the country this week. (“Latvia needs 5 bln euros from IMF/EU-finmin” - Thomson Reuters, Dec. 1, 2008)

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